Now more than ever, people are working to protect their assets for the future and make their money last. That’s why financial advisor Jared Elad has been so successful. Whether its personal or business plans, Elad can help, giving clients financial support with a personal touch.
“I take comprehensive financial plans to fulfill and enhance my clients’ personal and professional needs as best as possible,” he says.
Keeping them focused on the future and preparing them for all of life’s outcomes is one of the ways Elad fulfills these needs.
“A lot of clients I have are small business owners who need help not only with personal investing but leveraging what they have within their business. I try to tie that all together by protecting them from unforeseen events.”
Elad says especially now, more and more clients are interested in protection should something catastrophic happen to them or their business.
“Most small business owners think they will work forever, but if they are disabled they will have no income,” he says.
Getting clients to think about the future is most important to Elad, who has incorporated retirement plans for his small business owners so they can eventually sell their business and enjoy their golden years.
“I like to focus on the goals — what they [clients] are looking for, and what has happened in the past,” Elad says.
In the first meeting with a new client, he tries to get to know the client, their family and their financial situation. Elad says he spends about 90 percent of the time with a new client listening to what they have to say.
“The investments are one small piece of the puzzle; the comprehensive part is really important, because we never know what life will bring us,” he says. “You can get sick, the business can fail, etc. A lot of people don’t have a backup plan.”
Through meeting regularly with clients, he helps to quell some of their fears in the face of a changing economy.
“Everyone is very nervous,” he says. “While they don’t see things improving, they are — just very slowly. So when I sit down in person with clients, [it helps],” he said.
The rules of investing are constantly changing, and Elad says now is the most complicated time to begin. This is why he stresses the importance of hiring someone to navigate the financial maze so clients don’t have to.
“Most professionals do not have time to research and invest correctly, and it’s unbelievably complicated to do it right,” he says.
Long-term consequences of today’s mistakes are what Elad hopes to have his clients avoid.
“[I try to stress to clients that] you can’t mess up, because it could hurt you immeasurably, and in a lot of cases people are unable to recover,” he says.
One of the best ways to avoid a mistake is to ask questions — and many of Elad’s happy clients would tout him as just the guy to ask.